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Citifinancial bought my AT&T credit card account. They admit they do not have the original nor a copy of the original application for the card....Can they still sue to collect? I have paid back $5000.00 of an original $4700.00 balance over 6 years....they still want $4600.00 for interest and late fees.

Asked on 2/12/09, 2:09 pm

2 Answers from Attorneys

If the creditor sues you to collect on this debt, and they do not have the original application, they may or not be successful. They will have to produce some other evidence that it really is your debt. Often they are able to produce itemized statements showing purchases made or charges incurred, along with payments made on the account. Sometimes they are able to produce copies of cancelled checks that were written to make payments on the account. Depending on what documents they are able to produce, they may or may not be successful in their suit. However, it is often expensive and time consuming for the creditor to produce the necessary documents to prove their case, and as a result they may be amenable to a settlement for less than the full balance owed. Discharging the debt in bankruptcy is another possibility, and you may wish to consult with our office to determine whether bankruptcy is a good option for you.